Assignment:
Then answer the following questions:
Q.1 In the video of Whirlpool, it is mentioned that Whirlpool provides three different types of appliances that vary in the amount of features that are offered.
Discuss the product differentiation across these types. How could this affect production costs negatively? Positively?
Q.2 Discuss how Whirlpool avoids diseconomies of scale. Why might the hourly employees on the manufacturing side come up with cost-savingideas better than upper management who do not work on the manufacturing line? Define human capital.
Q.3 What role does competition play in technological development?
Q.4 What role does international trade play in technological development?